The Ichimoku trading tool empowers Gunbot users to execute trades as a full candle surpasses the Kumo, Tenkan-Sen, or Kijun-Sen lines. You have the option to specify which line is employed for buy and/or sell orders.
Ichimoku trading, also referred to as the Ichimoku Kinko Hyo, is a well-known trading instrument that delivers multiple data points on a single chart. This advanced analytical tool, created by Japanese journalist Goichi Hosoda in the 1930s, aims to provide a holistic perspective of potential price movements.
The five main components of the Ichimoku trading tool are: Tenkan-Sen (conversion line), Kijun-Sen (base line), Chikou Span (lagging line), Senkou Span A (leading span A), and Senkou Span B (leading span B). These lines offer invaluable insights on support and resistance levels, trend direction, and momentum strength. Overall, the Ichimoku trading tool helps traders pinpoint trends, momentum, and possible entry and exit points.
Buy Order Conditions
A buy order can be executed when the current candle fully passes below Kumo, Tenkan-Sen, or Kijun-Sen. It's up to you to choose which line to utilize for buy orders.
Sell Order Conditions
A sell order can be executed when the current candle fully crosses above Kumo, Tenkan-Sen, or Kijun-Sen. It's your choice as to which line to employ for sell orders.
It is highly recommended to use an additional momentum indicator along with the Ichimoku trading tool.
Keep in mind that gain protection is optional for this strategy, but not having it could result in sell orders below your break-even point.